Latest news with #Guyana
The National
an hour ago
- General
- The National
UN Security Council to vote on Gaza aid draft
The 10 non-permanent members of the UN Security Council have called for a vote on Wednesday on a draft resolution demanding an 'immediate, unconditional, and permanent ceasefire in Gaza respected by all parties.' The resolution, drafted by Slovenia alongside Algeria and Guyana and seen by The National, reiterates the council's demand for the 'immediate, dignified and unconditional release of all hostages held by Hamas and other groups.' It also urges the 'immediate lifting of all restrictions' on humanitarian aid into Gaza, ensuring safe and large-scale distribution, including by the United Nations across the besieged enclave. Slovenia, as the co-ordinator of the non-permanent group, sent the resolution and requested a vote for Wednesday. A UN diplomat, speaking on condition of anonymity, said the US is likely to veto the measure. For a resolution to pass, it requires at least nine votes in favour and no vetoes from any of the five permanent members – the US, Russia, China, Britain, or France. On Tuesday, 27 people were killed in southern Gaza as Israeli troops opened fire near a US-backed aid centre, with the military saying the incident was under investigation. United Nations Secretary General Antonio Guterres decried the deaths of Palestinians seeking food aid as 'unacceptable'. 'We are witnessing unthinkable loss of life in Gaza (and) the secretary-general condemns the loss of lives and injuries of Palestinians seeking aid,' UN spokesman Stephane Dujarric said. 'It is unacceptable civilians are risking and in several instances losing their lives just trying to get food.'
Washington Post
2 hours ago
- Health
- Washington Post
Scientists say a record amount of seaweed hit the Caribbean and nearby areas in May
SAN JUAN, Puerto Rico — A record amount of sargassum piled up across the Caribbean and nearby areas in May, and more is expected this month, according to a new report. The brown prickly algae is suffocating shorelines from Puerto Rico to Guyana and beyond, disrupting tourism, killing wildlife and even releasing toxic gases that forced one school in the French Caribbean island of Martinique to temporarily close.
Reuters
5 hours ago
- Business
- Reuters
Rise Guyana Announces Final Close of $29 Million Real Estate and Infrastructure Fund
GEORGETOWN, Guyana, June 3, 2025 (EZ Newswire) -- Rise Guyana, opens new tab today announced the final close of its inaugural private investment fund at USD $29 million, the first institutional real estate and infrastructure fund in Guyana. Backed by global investors from the United States, United Kingdom, Europe, South America and the Middle East, the fund capitalizes on Guyana's meteoric rise as the fastest-growing country in the world and the new frontier for high-impact investment. The closing comes as international oil giants ExxonMobil and Chevron square off in a high-stakes arbitration battle over a $1 trillion oil discovery in Guyana's Stabroek block—underscoring the country's growing strategic significance on the global stage. 'This fund reflects our confidence in Guyana's transformation and our commitment to building long-term value with local roots and global vision,' said Kristine Thompson, co-founder and managing partner of Rise Guyana. A Nation That's Redefining the Map Guyana's Stabroek oilfield—home to an estimated 11 billion barrels of reserves—has not only enabled Exxon to reclaim its crown as the most valuable U.S. oil company, but it's also projected to generate $182 billion in profits for Exxon and partners, and over $190 billion in revenue for the Guyanese government over the next 15 years, according to Wood Mackenzie. The scale and profitability of Guyana's oil—extracted at a breakeven cost below $30 per barrel—have made it 'one of the most prized oil and gas projects on the planet,' according to industry analysts. As a result, Guyana's economy tripled in the last five years and is estimated by the International Monetary Fund to grow at close to 15% annually for the next five. Rise Guyana: First Mover. Local Roots. Global Standards. Rise Guyana is an institutional fund manager dedicated to developing the assets that power Guyana's economic transformation. Led by a Caribbean-based team with decades of frontier-market experience, the firm combines local roots with global governance standards. Key projects in the pipeline include: The Fund targets a net internal rate of return of 30% through a barbell strategy that balances stable yield with opportunistic growth, offering a compelling profile for investors seeking frontier alpha in a de-risked environment. 'This is more than a real estate fund—it's a platform for national transformation,' added Thompson. 'We're combining frontier returns with institutional governance to help shape the physical, economic and social future of Guyana. This is the first of many funds to come.' As the world's eyes turn to Guyana, Rise Guyana is offering a rare opportunity: to build with purpose in a nation rising on the strength of its natural resources, its people and its promise. About Rise Guyana Rise Guyana is Guyana's first institutional fund manager dedicated to developing the assets that will power Guyana's economic transformation. The platform leverages unparalleled local knowledge and global acumen to generate significant returns in sectors such as real estate and infrastructure. Situated in the heart of Georgetown, Guyana, we are an integral part of the world's fastest-growing economy, with a vision to create enduring value for our investors and the local community. For more information about Rise Guyana and to explore investment opportunities, visit our website at Media Contact Kristine Thompson+1 868-683-6178kthompson@ ### SOURCE: Rise Guyana Copyright 2025 EZ Newswire See release on EZ Newswire
Reuters
8 hours ago
- Business
- Reuters
Exxon-led consortium's profit in Guyana rose to $10.4 bln in 2024
GEORGETOWN, June 3 (Reuters) - The profit of a consortium by oil producers Exxon Mobil (XOM.N), opens new tab, Hess (HES.N), opens new tab and CNOOC ( opens new tab in Guyana increased 64% last year to $10.4 billion, Exxon said on Tuesday. The group's expenses in the South American country rose to $4.9 billion in 2024 from $3.5 billion the previous year, the U.S. company added.
The Guardian
8 hours ago
- Business
- The Guardian
Caribbean beaches blighted by record masses of stinking seaweed
A record amount of sargassum has piled up across the Caribbean and nearby areas in May, and more is expected this month, according to a new study. The brown prickly algae is suffocating shorelines from Puerto Rico to Guyana and beyond, disrupting tourism, killing wildlife and even releasing toxic gases that forced one school in the French Caribbean island of Martinique to temporarily close. The amount – 38m tonnes – is the biggest quantity of algae observed across the Caribbean Sea, the western and eastern Atlantic and the Gulf of Mexico since scientists began studying the Great Atlantic Sargassum Belt in 2011, said Brian Barnes, an assistant research professor at the University of South Florida who worked on the new report from the University of South Florida's Optical Oceanography Lab. The previous record was set in June 2022 , with some 22m tonnes. 'The peaks just seem to keep getting bigger and bigger year after year,' he said. But scientists don't know why yet. 'It's the million-dollar question,' he said. 'I don't have a supremely satisfying answer.' Three different types of sargassum exist in the Caribbean and nearby areas, reproducing asexually as they remain afloat thanks to tiny air sacs. They thrive in different ways depending on sunlight, nutrients and water temperature, factors that scientists are currently studying, Barnes said. Experts have also said that agricultural runoff, warming waters and changes in wind, current and rain could have an effect. While large clumps of algae in the open ocean are what Barnes called a 'healthy, happy ecosystem' for creatures ranging from tiny shrimp to endangered sea turtles, sargassum near or on shore can wreak havoc. It can block sunlight that coral reefs need to survive, and if the algae sinks, it can smother reefs and sea grasses. Once it reaches shore, the creatures living in the algae die or are picked off by birds, Barnes said. Huge piles of stinky seaweed also are a headache for the Caribbean, where tourism often generates big money for small islands. In the popular tourist spot of Punta Cana in the Dominican Republic, officials have invested in barriers to prevent sargassum from reaching the shore. In the Dutch Caribbean territory of Sint Maarten, crews with backhoes were dispatched in late May as part of an emergency cleanup after residents complained of strong smells of ammonia and hydrogen sulfide, which can affect a person's respiratory system. 'The smell is quite terrible,' Barnes said. Meanwhile, in the French Caribbean, officials expect to soon use storage barges and an upgraded special vessel that can collect several tonnes of seaweed a day. The sargassum 'disfigures our coasts, prevents swimming and makes life impossible for local residents', the French prime minister, François Bayrou, recently told reporters. But Comito said such vessels were 'massively expensive' and not a popular option, noting that another option – using heavy equipment – is labor-intensive. 'You have to be careful because there could be sea turtle eggs affected,' he said. 'It's not like you can go in there and massively rake and scrape the whole thing.' Some Caribbean islands struggle financially, so most of the cleanup is done by hotels, with some offering guests refunds or a free shuttle to unaffected beaches. Every year, the amount of sargassum expands in late spring, peaks around summer and starts to decline in the late fall or early winter, Barnes said. The new record is likely to be broken – experts said they expect even more sargassum for June.
